MetisDAO, the second-tier aggregation platform designed to support the business transition from Web 2 to Web 3, gained 99.881% in one month after multiple integrated second-tier projects. In this article, let’s examine the three factors that have boosted the Web 3.0 coin MetisDAO. Details cryptocoin.com‘in.
Web 3.0 coin breaks record in TVL
Attracting liquidity has become a de facto arms race in the DeFi environment. Projects are constantly struggling to attract investor funds by offering attractive returns to crypto holders who are willing to take risks and lock their assets, and protocols use these funds to develop their products and attract larger investors. The latest protocol gaining traction in the total value locked (TVL) race is MetisDAO, designed for the Web2 to Web3 migration.
Alongside the growth in TVL, METIS price gained new momentum at $49.83 on Dec. 14. It registered the ATH level at $323.54 on January 16.
Three reasons for increased TVL in the Metis protocol:
- Launching multiple DeFi protocols on the network,
- Additional support for METIS-based trading pairs in cross chain protocols,
- It is the network’s ability to offer Ethereum users lower transaction costs and faster transaction times.
Launching multiple DeFi protocols in Metis
The biggest increase in value in Metis resulted from the release of several new DeFi protocols available only in the Metis network. These include NetSwap, Agora and Tethys Finance.
Cross chain bridge support
A second reason for the increased value hosted on the Metis network includes additional support from multi-chain bridges that provide greater access to the Metis ecosystem. Beefy Finance is one of the larger protocols that adds support for METIS, NETT, and Metis-based tokens, including Metis-based Tether (USDT), USD Coin (USDC), and Wrapped Ethereum (WETH).
The third factor that drives value to the Metis ecosystem is the network’s low-fee, high-throughput capabilities that help Ethereum users save time and money. These capabilities have led to the rapid growth of the Metis ecosystem as a whole and now supports multiple DeFi protocols and NFT projects. Recently, Metis has partnered with Curate, the cross-chain NFT marketplace that will enable gas-free transactions.
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